$19.97 barrel oil?

[ExtraSlow]

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Didn't see it mentioned yet, but WCS is below $10... Currently $9.19 and still trending down.

WCS can go to zero. WTI will be under $20 before this week is over.

[vengie]

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When do we expect the first Canadian company to start doing layoffs over this?

I know of multiple layoffs that have been happening since last Wednesday.
Ours happen tomorrow.

[you&me]

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WCS can go to zero. WTI will be under $20 before this week is over.

For sure, just seemed like sub-$10 is a notable marker...

CAD is below $.70 too...

[gqmw]

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I know of multiple layoffs that have been happening since last Wednesday.
Ours happen tomorrow.

Side question - how are the layoffs happening given that most people are WFH? Are companies asking people to come in?

[vengie]

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Side question - how are the layoffs happening given that most people are WFH? Are companies asking people to come in?

Over the phone.
I have to cut 40% of my team that way... it’s brutal.

[nzwasp]

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I know of multiple layoffs that have been happening since last Wednesday.
Ours happen tomorrow.

What type of company are you though? My wife seems to think she will lose her job she also thinks the company won’t have enough money to pay any severance

[vengie]

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What type of company are you though? My wife seems to think she will lose her job she also thinks the company won’t have enough money to pay any severance

Service company

[dirtsniffer]

Afaik there is enough case law regarding benefits they are either paying them or going into receivership

[KPHMPH]

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For sure, just seemed like sub-$10 is a notable marker...

CAD is below $.70 too...

As much as I think this is horrible I’m kind of happy about it. Every time I send money back to my Canadian accounts it makes me so happy.

[you&me]

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As much as I think this is horrible I’m kind of happy about it. Every time I send money back to my Canadian accounts it makes me so happy.

Everything I earn in is in USD... I'm keeping as much as I can in my US$ account... Saved a ton by not making my usual transfer last Friday.

[nzwasp]

so Kenney is expecting the hit to alberta to be as bad as the projected hit to the USA of -14% for this year. And he also said Q2 average price for Brent Crude is $5 a barrel - seems to low. Is he talking about the spread between brent and wti?

[Xtrema]

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so Kenney is expecting the hit to alberta to be as bad as the projected hit to the USA of -14% for this year. And he also said Q2 average price for Brent Crude is $5 a barrel - seems to low. Is he talking about the spread between brent and wti?

Brent at $26.4. WCS at $7.6. So are we at a point where it's cheaper to leave it in ground and wait?

But if we do, doesn't that mean Saudi and Russia wins?

[Tik-Tok]

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But if we do, doesn't that mean Saudi and Russia wins?

Was there ever a doubt they wouldn't?

[ExtraSlow]

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But if we do, doesn't that mean Saudi and Russia wins?

You know, it's in our best interests if they DO win. Capitalism isn't a zero sum game. If they are in teh best position to make lots of money of their resources, then we will have the chance to do the same if we don't hinder ourselves excessively.

A collapse of worldwide drilling is exactly what's needed to re-balance the supply side of the equation, and eventually, raise prices. In fact, with SA and Russia pumping flat out, and prices rising, it will actually put north american producers in a STRONGER position, as they will truly become the swing production.

Anything that North America does this year to help prop up drilling activity is against our own interests.

[Buster]

The sooner we see mass bankruptcies on over-leveraged american producers, the soon Canada can get back to making money. We should hope for a quick SA/Russia win.

[ExtraSlow]

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The sooner we see mass bankruptcies on over-leveraged american producers, the soon Canada can get back to making money. We should hope for a quick SA/Russia win.

That's probably a clearer way of saying what I mean.

[M.alex]

How come I don't see people trying to sell their exotic cars for dirt cheap yet? Most are so over-leveraged that this has to be crushing them.

[ExtraSlow]

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How come I don't see people trying to sell their exotic cars for dirt cheap yet? Most are so over-leveraged that this has to be crushing them.

I'm considering selling mine to buy some high growth index funds. I'll PM you when the Kijiji advert is active.

[Xtrema]

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The sooner we see mass bankruptcies on over-leveraged american producers, the soon Canada can get back to making money. We should hope for a quick SA/Russia win.

So do you think Cenovus should go into bankruptcy as well? Or are US operation are even more leveraged than Cenovus?

[Buster]

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So do you think Cenovus should go into bankruptcy as well? Or are US operation are even more leveraged than Cenovus?

What do you mean by should?